CryoLife, Inc., Atlanta, GA announced on July 5 that it had made
two misstatements in a July 24 press release saying it had received a
warning letter from the US Food and Drug Administration (FDA) related to
an inspection of the company's human tissue processing
laboratories. (Transplant News, June 30, 2002)

The company issued the following corrections to the earlier
release:

*"First, the Company confirmed that, as it had earlier noted
in the Wall Street Journal, its comment to the effect that it had never
received a warning letter was inaccurate, in that it had received a 1997
warning letter regarding carotid shunts manufactured by its Ideas for
Medicine, Inc. subsidiary in Florida. The Company sold the product line
of the Ideas for Medicine, Inc. subsidiary, consisting of disposable
medical devices and infusion devices, in 1998.

*Second, with respect to the CDC's (Center for Disease Control
and Prevention) investigation of two reported allograft heart valve
inspections, the Company stated in its July 24, 2002 press release that
it had 'received pathology data from the implanting hospitals'
own laboratories that clearly demonstrated there is no infection in
either valve.' Based on the pathology data it received, CryoLife
believed this statement to be correct. However, in subsequent
communications, a CDC representative has informed CryoLife that based on
certain additional information available to the CDC, which information
CryoLife has requested but not yet been able to obtain, signs of fungal
infection were isolated on a culture of the explanted valve.
Information currently available to the Company indicates that the valve
was explanted approximately seven months after the valve was
implanted."

Regarding the unusual corrections issued following the original
release CryoLife President Steven Anderson said: "We are
undertaking an immediate effort to obtain the reports upon which the CDC
opinion is premised and fully intend to further improve our
communications with hospitals, physicians, the CDC, and others in order
to help insure that we receive all relevant information as soon after
its release as possible."

Contact: Roy Vogeltanz - (800) 438-8285

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